$789.5 billion: Stimulus deal reached

In keeping with the centrism-for-centrism’s-sake nature of the “compromise,” they appear to have settled on a dollar amount
before settling on the actual mix of tax cuts and spending of……

All Too Predictable [John Derbyshire]

A wee bit of Stimulus-related chicanery, from a well-placed reader:

John — The House version of the bill apparently had a requirement that business recipients of stimu-moolah use E-verify when they hired, to make sure that the jobs being created did not go to folks who are not here legitimately, job creation being, after all, the ostensible point of the undertaking. The Senate quietly snipped that bit out of its version.
Is anyone surprised by this? The notion that actual U.S. citizens have any special claim on the federal government’s attention, is long gone. Ours is a government of the whole world. For it to privilege U.S. citizens in any way would be nativist. (Everybody jump up on nearest chair, clutch skirts, and shriek.)

NRO Corner

I’ll just sit here in my office untill someone chimes in and tells me what to do next.

Whistles…

Be grown ups, GOP members. Have the courage of your convictions and walk away from it. Let Obama and the Dems run attack ads. He’s got the votes to pass, so just look at him collectively and say, “Do you feel lucky that this POS is going to help the economy without crippling us for generations? Well, do you, punk?”

Obama is a gutless weasle. He won, so he should quit whining and pass this turkey.

Congressman Tom Price (R-GA), chairman of the Republican Study Committee, confirmed reports of the Democrats’ midnight meeting.
INC on February 11, 2009 at 1:18 PM

Just another example of Obama saying one thing and doing another.

These bogus acts of supposed partisanship from Obama that are only for the cameras and his friends in the press to push can only be exposed if the Republicans cry foul and call them out on every network every chance they get.

Being in the same room with someone is not proof of bi-partisanship.
Negotiating and coming to a consensus where “everyone’s” views are respected and instituted is true bi-partisanship.

Something the democrats use to care about when they were yelling “dissent is patriotic” and “the Constitution provides for a voice from the minority”.

Now they are playing dictator and not a word about it from the move on crowd or hollywood.

Typical liberal hypocrisy.

When enough pay-ers wake up and smell the coffee, they’ll have a tea party.

Steve Z on February 11, 2009 at 12:55 PM

They had better hurry up,because as each day passes,more and more economist are speaking up about how bad of an idea this type of spending is and how bankrupt our future will be:

Costs of the Stimulus
http://minx.cc/?post=282727
(via Ace of Spades)

Ray Fair on the Stimulus
Yale economist Ray Fair, who maintains a well-known macro model, emails me some simulation results:

This link has my latest baseline forecast, which assumes no stimulus bill, and then a (crude) stimulus experiment.

The stimulus has a big effect in 2010, but by 2012 the economy is roughly back to baseline (except for variables like the federal government debt). In the baseline case the federal debt rises from $5.78 trillion at the end of 2008 to $8.74 trillion at the end of 2012. In the stimulus case the debt at the end of 2012 is $9.34 trillion, about $600 billion more than in the baseline case. This does not take account of possible increases in the federal debt from the bailout activity.

So there is short run gain from the stimulus bill, mostly in 2010, but the potential long run costs do not seem trivial. If the stimulus bill is passed and the bailout continues, it may be that large tax increases will be needed starting in late 2011 or 2012.

This also does not take into account natural disasters(katrina cost hundreds of billions and is still going) or an international incident such as terrorist attacks or NATO intervention.

So as inflation hits,US dollar in trouble,and higher energy costs due to Obama’s “Green” taxes/restrictions are hitting us,the “smart ones” are going to have to raise taxes to deal with an almost 10 trillion dollar deficit.

Great plan coming from the same people who told us Fannie/Freddie were strong and that there is no terrorist threat.

What do you do during a tornado?

I’ve been told we don’t have tornadoes or cyclones this far south in San Antone, but I don’t know for sure.

My fiancee and I are building a 4 bedroom, 2 1/2 bath new house in Katy for just under $209K. God bless Texas.

That’s the reason I moved here. A house like that would set you back $750K in DC (at least) and you’d also have to put up with your snotty liberal neighbors and mad traffic to boot.

This is a good question:

a Dumb question

There’s a lot of legislation in the package – things that couldn’t be passed if offered directly. Is this constitutional?

And, if not, why are we hearing so much about the dollar amounts and so little about the policies being “illegally” legislated?

Word is that some in the GOP have been trying to nudge Pat Toomey out of the Pennsylvania governor’s race and challenge Specter for his seat in 2010. Well, now there’s rumors that Specter might face another serious challenger — Pittsburgh entrepreneur Glen Meakem. Meakem is independently wealthy, has his own talk radio show and newspaper column. A well-connected GOP source in Pennsylvania tells me that this should “scare the HECK out of Specter.” Meakem has already issued a press release blasting Specter for his compromise on the recent spending bill. He also told the Pittsburgh Post-Gazette, “I’m not a candidate at this time, but I’m absolutely committed to see that there is a challenge,” Mr. Meakem said.

Also considering a run at Specter is Peg Luksik, who most recently served as campaign manager Bill Russell, the Congressional candidate who came within a hair’s breadth of defeating John Murtha. She doesn’t quite have the resources or recognition that Meakam does, but she is savvy and a fixture in the Pennsylvania GOP.

NRO Corner. A conservative talk radio host. Love it.

Ha. I hope that’s the end of the “melting the phones nonsense, at least on Ed’s show. By all means, write your senator or congressman (though unless you’re a big donor, the only thing they’ll REALLY listen to is election ballots, not letters)…

Trent1289 on February 11, 2009 at 12:17 P

What gets the RNC’s attention is emails, calls, FAXes and even snail mail, with a note to Michael Steele notifying him that the RNC should not bother soliciting you for financial support unless the RNC is going to cut loose the renegades and RINOs. Letting the renegades and RINOs know that they are “On their own” for the next election cycle and the RNC will actively support an opponent during the primary.

You are correct when you state that MONEY has influence, but it doesn’t have to be large amounts if you talk to the right people

Congressman Tom Price (R-GA), chairman of the Republican Study Committee, confirmed reports of the Democrats’ midnight meeting.

Rules for the conference committee dictate that there must be an open hearing for negotiations, but that hearing is controlled entirely by the majority party. It is the prerogative of congressional Democrats as to whether the hearing will be an honest and open forum or instead a dog and pony show while real negotiations take place in a smoke-filled backroom.

With a trillion dollars of taxpayer money currently at stake, it is critical to provide the American people a full and complete understanding of how it is going to be spent.

This morning, a very senior contact within the House GOP informed me that Nancy Pelosi (D-CA) and Harry Reid (D-NV) met at length last night to put together the House/Senate conference report on the “stimulus” package. Only Democratic conference committee members were informed of the meeting and permitted to attend.

Ironically, the Democrat-heavy House yesterday voted unanimously in favor of a GOP-sponsored resolution stating that the bill should be made subject to a 48 hour review period by the public before it was finally passed by Congress — something that seems very unlikely to happen, given Democrats’ actions over the last twelve hours.

There’s a lot of legislation in the package – things that couldn’t be passed if offered directly. Is this constitutional?

And, if not, why are we hearing so much about the dollar amounts and so little about the policies being “illegally” legislated?

izoneguy on February 11, 2009 at 1:01 PM

The only way this thing – and the other evils – go under is for foreign govenrments to stop buying our debt. Once we run out of other peoples’ money. It’ll end.

I think we should spend more to reach that end. It just isn’t happening quickly enough, if you ask me.

EU is done – it’s banks are 24 trillion in the hole now. So they are past it. We’ll get there too.

Youngs98 on February 11, 2009 at 1:04 PM

The day after at least two tornados hit the state (out of season) is probably not the best day to recommend Oklahoma.

But then, I’m biased because I grew up there.

Wanted:

A good house for rent in a RED state. Moving soon. Will need 3 bedrooms and a job. Neighbors must not be Obama voters or RINO’s or socialists. This state is just too frigged-up. Help.

maineconservative on February 11, 2009 at 12:25 PM

Best chance would be Oklahoma. EVERY SINGLE COUNTY was red in the 08 election. However, I was there for the last year I was in the Army…and I ain’t goin back!

Dumb question, but can we repeal any of this shyte in 2010?

marklmail on February 11, 2009 at 12:45 PM

Some of it goes to the baseline. So it’s automatically included in future budgets. So, since government never decreases, the answer is no.

Never say NO when it comes to destroying evil. That is what this is. A new generation of Ameircans are coming that will destroy what Obama has made. For what the evil left hand of Obama signs we will destroy with our right.

I just moved to Texas and you can get a four bedroom, three bath, new house in San Antonio for $250K.

Beats Stinktown, District of Columbia where $250K won’t even get you a one bedroom condo next to a crack house on Capitol Hill.

NoDonkey on February 11, 2009 at 12:29 PM

My fiancee and I are building a 4 bedroom, 2 1/2 bath new house in Katy for just under $209K. God bless Texas.

If you’re in a blue state, get the hell out! Just make sure you don’t bring any liberal voting tendencies with you down here. :-)

Dumb question, but can we repeal any of this shyte in 2010?

marklmail on February 11, 2009 at 12:45 PM

Some of it goes to the baseline. So it’s automatically included in future budgets. So, since government never decreases, the answer is no.

What do you do during a tornado?

Bishop on February 11, 2009 at 12:54 PM

Put your head between your knees and kiss…

I figure I’m on the hook for give or take $13,000 in today’s dollars.
gatorboy on February 11, 2009 at 12:15 PM

The average American is on the hook for $790B / 300M people = $2,633, for a single person. If you’re married, $5,267. If you’ve got two kids, $10,533. Three kids, close to $13,000.

Except that there’s no such thing as an average taxpayer. There are two Americas, although not in the sense John Edwards intended. There are those who pay, and those who play. Half of us work for a living and pay taxes, and half of us play with the goodies their Dem friends take from us.

When enough pay-ers wake up and smell the coffee, they’ll have a tea party.